nCoat is a development, licensing and distribution holding company that provides traditional micronized particulate and next gernation coatings for the automotive, aerospace, defense, diesel engine, recreational vehicles and energy industries. Its proprietary solutions are based on nanotechnology and leads the market in heat management, corrosion resistance, friction reduction, abrasion protection, appearance, and bond strength.
In the report the analyst stated, “Based on historical revenues and not factoring in the potential for growth, NCOA shares are fairly valued between $0.75 and $1.69 using the price-to-book and price-to-sales methods respectively. We take an average of these two prices to come up with a price target of $1.22. Considering shares recently closed at $0.36, this price represents a likely 238% increase just to bring the value of the shares in line with average metrics for industry competitors.
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